NEW YORK, Nov. 30 (UPI) -- Crude oil prices made slight gains Friday on the New York Mercantile Exchange, hovering above $88 per barrel.
In New York, West Texas Intermediate crude oil added 33 cents to $88.40 a barrel. Home heating oil gained 0.66 cents to reach $3.0635 a gallon while reformulated blendstock gasoline lost 0.57 cents to $2.7277 a gallon. Henry Hub natural gas gained 0.5 cent to $3.653 per million British thermal units.
At the pump, AAA reported a national average price for regular unleaded gasoline at $3.402 per gallon, down from Thursday's $3.409.
Crude oil has been taking its cue from equity markets in the aftermath of an Israeli-Palestinian flare-up of violence and a cease-fire announced Nov. 21.
Overall, crude oil pricing has settling back to a normal supply-and-demand cycle since the market was jolted by a national election, Hurricane Sandy and the of Middle East violence.
Prices spiked above $93 per barrel in mid-October, then were close to $85 per barrel most of November while stock markets took a beating, reducing confidence in commodities.
|Additional Business News Stories|
LONDON, June 19 (UPI) --An oil company working in northern Iraq said Wednesday it was looking to confirm the region may be one of the best in the world in terms of resource potential.
SAO JOSE DOS CAMPOS, Brazil, June 19 (UPI) --Brazilian aircraft maker Embraer hopes to continue building up its sales of private jets at the same time as it expands capacity in defense, security and tactical transport.